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the stress of fiscal cliff negotiations spending the holiday in hawaii. there is also a somber moment on his schedule. president and first lady attending a memorial service for daniel i inouye. >> he is leaving the fiscal cliff worries back home. we are told between christmas and new year's he'll be heading back to congressional leaders. you noted the somber moment today that the president and first lady right now as we speak are at punch bowl, national military cemetery on the island where the senator will be buried. harry reid has been making a speech moments ago and telling a where senator bob dole like senator inouye, they recuperated in michigan and later served in the senate together, bob dole walked up to the casket and lifted his left hand, his right hand was badly damage and saluted. a poignant moment. president obama at the washington cathedral, it was his really earliest political inspiration. both the president and senate majority leader reflecting on daniel inouye both a long time legislator but two days they will be getting back to work on the fiscal cliff. >> heather: the diff
're talking about the fiscal cliff, we heard so much about spending and revenues over the next decade. is the best scenario over the next decade merely a maintenance of existing foreign aid? >> certainly we should maintain it. we have in fact cut back on foreign aid. at the very least, we should maintain it. i would like to see if we get to a place where we can have some agreement in washington and put off -- but our finances in better shape, in a few years we could increase it. -- put our finances in better shape, in a few years we could increase it. foreign aid is good for the countries and get it, but also america. >> let me ask you about the situation in syria. 40,000 people dead. almost two years into a civil war. no real and insight. the obama administration has a clear policy of avoiding intervention -- real end in sight. the obama administration has a clear policy of avoiding intervention. what do you think should be done more in syria? >> syria is a complex issue. i was the author of the syrian accountability act, which passed both houses of congress and signed by president b
and spending cuts that would kick in if the nation falls off the fiscal cliff at the end of the year. check this out, seven of ten questioned in our cnn/orc national poll said they there would be major problems or a crisis in the country if that happens. >> part of what voters were looking for, is some compromise up here. that's what, that's what folks want. >> and our poll indicates more americans want the republicans rather than the democrats could compromise more to reach bipartisan solutions. >> the democrat-controlled senate and white house have no plan and have offer nod plan all year to deal with these looming cuts. >>> but the public doesn't seem to agree. and more people would blame republicans in congress rather than the president if no deal is reached. one reason why? more people see the views and policies of the gop rather than the democratic party as too extreme. that wasn't the case two years ago. if there's any good news in the poll for the republicans, it's this -- a small majority say it's good for the country that the gop controls the house. which suggests a public doesn't
substantial snowfall. >> axelrod: jeff, thank you so much. it's nine days now until the fiscal cliff of tax increases and spending cuts. still, congress has gone home for the holidays. and today, president obama and his family arrived in honolulu, where they'll celebrate christmas. the president says he is ready to return to make a deal. retailers called today "super saturday." it is traditionally one of the busiest shopping days of the year. businesses are banking on it because so far this season, sales numbers have not been as strong as many had hoped to see. here's michelle miller. >> reporter: kidding around is a specialty toy store in new york city. you won't find any of this stuff at target, wal-mart? >> no. >> reporter: the owner says today is his busiest day of the year. within the last month, what have your sales been? >> they're up from last year about 5.5%, but some of that is the influence of the early hanukkah. >> reporter: he's doing better than most retailers. shoppertrak, which monitors consumer behavior nationwide, predicted holiday sales growth of 3.3%. they just cut it to
of us? the president is standing firm on fiscal cliff negotiations and so much is at stake. why can't both sides reach a compromise? >> charlie, how are you? >> fine, good to be with you. >> great to have you here. good morning. look, they don't seem closer. everybody says they're compromising. i'm curious, do you feel from the president's point of view first that he made a campaign promise about what he would and wouldn't do regarding cuts and taxes and he's dug his heels in, standing firm? >> i think absolutely. he feels like he won a mandate and let's be clear, he won handily. he beat mitt romney handily in the election so he's walking away thinking he's got a mandate and that's why he's deeply dug in. the problem with that mandate is of course to say we want to -- he calls it a balanced approach. that is sort of a vague kind of campaign promise nobody really knows -- it's always sounding good but i don't think people are sure what it means. the problem is on the other side, with the republicans in the house, they have a mandate too. they won too. some of them won by larger margi
an economic crisis from this so-called fiscal cliff. some say no deal is what the country needs to cut spending and raise taxes. what will happen? national correspondent live in washington with the details. good morning, steve. >> good morning, eric. the two sides in the fiscal cliff debate had their say before heading home for christmas, but no deal of course. after house speaker john boehner called off his push for a plan b last week saying the ball is now in the democrats' court. there has been no movement toward any deal. democrats want tax hikes for the wealthy. republicans want spending cuts. and some in the gop say the president doesn't want to avoid the fiscal cliff. >> when i listen to the president, i think the president is eager to go over the cliff for political purposes. i think he sees a political victory at the bottom of the cliff. he gets all of this additional tax revenue for new programs and he gets to cut the military which democrats have been calling for for years and he gets to blame republicans for it. >> president obama for his part said he is optimistic a deal c
to the mainland but as that fiscal cliff deadline gets closer what do you think will happen as it rolls on? >> reporter: no official word the president will return to washington, i think that is the expectation. as you know, miguel, the senate will convene on december 27th, that's thursday. and in a perfect world, what the white house would want to see is the senate take up some sort of measure to avert the tax hikes that will hit people earning $250,000 or less. that's what they would want. that of course, would require some buy-in from senate republicans and ideally, as the white house would say that would then pass the house. now, that's lot of sort of wishful thinking, you might say, especially considering some of the pessimism we are hearing from democrats and republicans about whether the u.s. is going to go over the fiscal cliff. some folks think that perhaps senator mcconnell would not negotiate something with senate democrats if he wasn't sure that it was going to pass the house, that it would get by at least some of the republicans who would need to get by to pass. but i think th
the bush tax cuts expire and the automatic spending cuts kick in. the dreaded fiscal cliff that will likely have a powerful impact on the economy can washington actually come to an agreement and what's going on behind the scenes? don peebles, chair monday and ceo of the peebles corporation, don was a leading fund-raiser for president obama. good to see you. >> thank you. >> a lot of drama happening in washington. let's talk about the fiscal cliff. what's your take on how this plays out? now with just a few days left in the year to get this deal done. >> i don't think they're going to come back after christmas. i think that we will see them back in early january to make a compromise. i think that comp promise is gog be in between where the president is and where the speaker is. >> you say we go off the fiscal cliff then? >> yes, do. >> do you think we will see the economy hit recession? that was the expectation, right? >> no. that is the expectation but i don't think so. i think there's been a lot of drama, especially on the tax increase side. the tax increase side is do symbolic. at the end
to start. 17 million said they plan to be shopping on christmas eve. uncertainty over the fiscal cliff is affecting how much consumers are spending. retail analysts say holiday sales are on track to rise 4.1% to $586 billion, the most optimistic forecast since the recession. >> black friday did about $11.2 billion in sales. they had very strong results compared tos la the year. retailers are hoping that the consumers will come back and deliver the same strong results during the last weekend of the year. >> retailers are pulling out all the stops in these final days. some 50% off at some stores to longer shopping hours. toys "r" us, macy's and target are among the giant department stores staying open around the clock until christmas eve. top of the list this season, smart phones and all things apple along with clothing and toys. the challenge now -- >> i know who i need to buy for but not what i'm buying yet. >> reporter: finding those perfect gifts before time runs out. >> a lot of those hard to find electronic gifts that are in demand, stores say they are refreshing their inventory ev
striking a deal on the fiscal cliff. a lot of criticism for that. the deal mean there is will be massive spending cuts and massive tax hikes after january 1st. >> what is the reality? we checked in with current san francisco mayor ed lee and former mayor womeny brown. our question on the fiscal cliff, how much of this is the politics and how much of it is show for the public and real deal cutting? >> first of all, none of it is show. it is really politicians trying their best to prevail of what they promised their voters they would do. that is what it is. they are not postponing on purpose. they are going as long as they can. willy brown said, and i agreed, my voters would have to say i didn't make the fight, what i promised to do. >> reporter: what you promised do isn't after you it is down and see the facts isn't exactly the right way to go. what do you do politically then? >> for me i naturally try to get that information out there and let the public and certainly everybody looking at the budget process understand what changed circumstances we face. for me budget has been a proce
and it in racing tax brackets on what people earn. why is chained cpi suddenly so vital to the fiscal cliff negotiation? it isn't a spending cut or a tax hike, but it would effectively cut spending and raise taxes on some, saving the government an estimated $300 billion over the next decade. the problem is that what that means is that seniors, the longer they live, the less money they would actually take home. they would see a cut to their benefits and that's what has progressives so upset. >> politically speaking, this was a significant concession from the democrats or was it just an accounting fix? >> well you know, it was both of those things. it is an accounting fix. it is a significant concession from democrats. some democrats who i spoke to said look, maybe i would consider this maybe. but only if we could have some sort of mechanism, ali, that a senior past age 85 who would be facing six or 8% cut in benefits, maybe there would be an adjustment to make sure, especially for people who are very poor, that there would be some sort of safety net. paul krugerman has said liberal firebrand
died monday. >> there is just nine days until the country reaches that so-called fiscal cliff. tonight, at least one senator says after this week he's not feeling to optimistic. appearing on "the state of the union" joseph lieberman says it will be irresponsible if lawmakers are not able to get a deal done. >> i feel it is more likely that we will go over the cliff than not. if we allow that to happen it will be the most consequential act of congressional irrespent in a long time. >> he also said that he believes lawmakers will be trying to work out deals until the last second. >> two people are in custody after they faked a hostage situation and got into a shootout with police in california. this happened late last night. police tried to pull over a s.u.v. for speeding but the driver kept going. a man and woman ditched their vehicle and ran. swat members initially thought the man was holding the women hostage but it did not turn out that way. >> the female was the second suspect that ran from the car and she is from colorado and did some ja
thank you. there are eight days now until the fiscal cliff of big tax increases for most americans. and across-the-board spending cuts in the federal budget. even with congress's adjourned and president obama out of town some lawmakers today talked about a last minute deal. >> my own belief is what we ought to do is take speaker boehner's last offer the president's last offer split the difference. that would be a package of about $2.6 trillion. you couple that with the 1.1 trillion already done. that would be close to the $4 trillion we need to stabilize the debt and begin to bring it down. >> i would vote for revenues including tax rate hikes even though i don't like them, to get a-- to save the country from becoming greece tax rate hikes are part of the solution driven by the president. but he's going to get tax rate hikes. to my republican colleagues, if we can protect 99% of the american public from a tax hike that is not a tax increase in my books. >> jeff: with christmas just two days away last minute gift guire-- buyers are out. today shopper track said saturday was the buse
already. the fiscal cliff. it's not a cliff. it's a metaphor that refers to two single acts of congress signed by the president. spending cuts and tax hikes that can be easily changed as they were created. so enough already about a cliff. okay. capitalist of the year, pat? >> french actor gerald depardo. he flees from france to belgium to avoid the income tax. gives up his citizen shap. mort, you ought to take a look at that example. he fled the country. >> i will get back to you. >> mayor bloomberg, who put $250,000 into the maryland same-sex marriage campaign which succeeded. also, he used his money to defeat a pro-gun democratic in california. money well spent by the mayor of new york. >> fed chairman bernanke who saved the financial system which is at the core of capitalism. >> beautifully stated. >> jim demint from his move from the senate to the heritage foundation. i want to tell you mr. capitalist. >> with that salary? capitalist of the year mark zuckerman. for his $200 million contribution to columbia university for their institute for the mind and the brain. congratulations, m
everything. >> schieffer: let me ask-- >> but i think we need to stop this fiscal cliff at a reasonable if salary level and then start working on the spending cuts. >> schieffer: about 30 seconds, senator. will there be a small deal? >> i think there's going to, unfortunately, be only a small deal. unless we get to dpowrl trillion, we're just kick the hand. we took $4.5 trillion out of the revenue stream. with the bush tax cuts we're only talking about putting a third of that back in. at the same time we doubled defense spend, created homeland security, and created a new drug benefit and we're all getting a lot older. we have to realize it takes revenue, spending cut and entitlement reform. >> schieffer: you think they'll get past it? >> i think they will get past it but we have to get to the big deal. >> schieffer: all right, we'll be back in one minute. and now is when the gulf gets even better. the beaches and waters couldn't be more beautiful. take a boat ride or just lay in the sun. enjoy the wildlife and natural beauty. and don't forget our amazing seafood. so come to the gulf, yo
now after lawmakers took off to go home for the holidays without striking a deal in the fiscal cliff. again, if there's no deal, we see painful tax hikes and massive government spending cuts after january 1st. stay with us when we checked in with san francisco mayor edley and former mayor willie brown. these guys are no strangers. we have the so-called fiscal cliff. with the politics involved here? how much of what we have been seeing is real deal cutting and how much is show? >> first of all, none of it is really show. it's really politicians trying their best to prevail what they promise their voters they would do. that's what that is. they are going as well as they can. the first day as we said something different than willie brown. i immediately agreed. my voters would have to say, i didn't do what i promised to do. >> what if what you promise to do is after you sit down and see the facts and it isn't the right way to go. what do you do politically? >> for me i naturally try to get that information out there but also let the public is certainly everybody looking at the budget pro
'm wondering, we are talking about the fiscal cliff talks. the president did not talk about it, he is spending his vacation far away. do you think this is part of the negotiation as well, the president sending a message saying hey, listen, i'm done, this is my final offer? >> part of it, i think, i don't think that is it. i think there's really under way a sort of last ditch effort for the white house to work out a smaller measure with senate democrats who would need to buy in. the senate minority leader mitch mcconnell to avoid the tax hikes. i think part of this is the president saying to house republicans, you have to come around and in way when boehner said, don, that the ball is in the court of the democrats, it's true. the republicans have given up their role as their primary negotiators in this. to this point, they are trying work out a smaller bill, and president obama, you can tell, he is holding out hope that it can work. >> nobody can get 100% of what they want. and this is not simply a contest between parties in terms of who looks good and who doesn't. call me a hopeless optimist?
in the next nine days to avoid the fiscal cliff we ring in the new year with big tax increases and spending cuts. here to talk about what is going to happen or two leading senators. john barrasso, chairman of the republican policy committee. and, from new york, democrat kent conrad, chairman of the senate budget committee. senators, welcome back to fox news sunday. >> thanks for having me. >> chris: before heading to hawaii for christmas the president out a new, stripped-down plan to avert the fiscal cliff. here's what it is, extend the bush tax cuts for people making less than $250,000. extend unemployment benefits for the 2 million people who will run out, next month. and, delay the sequester of $110 billion, in spending cuts, next year. for all of the talk of $4 trillion in debt reduction the plan would only save $800 billion, over ten years. senator conrad, is that the best that washington can do over the next nine days, and can you pass even that? >> look, chris. it may come to that but we can do better. and we should do better. this is an opportunity to do something that would be hug
the development. have a merry christmas, everybody. >>> i'm chris wallace. talks to avert the fiscal cliff sal and washington debates how to prevent more mass murders. with nine days to go, is it still possible to make a deal to head off big tax increases and spending cuts? captioned by closed captioning services, inc. , republican john borasso and democrat kent conrad. >> as the nation mourns the victims of a newtown school shooting we turn to a man of faith for some answers. in these trying times he sees the need for a spiritual awakening. we will discuss the sandy hook massacre and the meaning of christmas. plus, a change at the state department as the benghazi report is finally released. we will ask our sunday panel about the nomination of john kerry to rehe place hillary clinton and where the investigation of the terror attack that killed four americans goes now. and our power player of the week continues his holiday tradition to show respect for veterans. all right now on "fox news sunday." hello again from fox news in washington. at christmas, people who are naughty get coal in their st
cliff happen. there is no way we can get our spending under control. guest: that is a growing sentiment for a ton of folks on capitol hill, especially among conservative republicans. they do not want that fiscal cliff. there are a number that are angry over the cuts that would come from defense. there is growing sentiment among some of them that if you go over the cliff, you look at the first real dollar to dollar ager spending cuts in a generation. some of them are eager about that. not necessarily a public thing, but they are talking amongst themselves. is this the worst thing if we go over it? some are looking at the same situation with tax rate. it is not the worst thing if we can suddenly raise our are sent to joe tax rates -- of tax rates. the center is boehner and obama and the other leadership posts there publicly saying no, no. you cannot go over this. we should stop this. host: barbara from texas. caller: thank you for taking my call this morning. merry christmas. i have been listening to c-span a lot. i have got some comments and one question. i do believe that we need to go
and the only way you can really fix this fiscal problem that exist, even if you resolve the fiscal cliff we still have a fiscal problem and argue over both tax increases which everybody knows needs to go up in order to fix it and spending cuts and entitlements. >> it may not exist in washington. on your point about dogma, grover norquist, of course, you are you've popularized the no tax pledge for many years. on this plan by the speaker which would have loued taxes to go up your group said it wasn't a tax increase and that still wasn't good tough for a lot of house republicans. >> look, let's understand, there is a plan to actually solve the debt that's been run up, the deficits to continue, entitlement reform and tax reform to get more pro-growth, tax reform and that's the ryan plan passed twice by the house of representatives. people can talk -- >> no support from the president. it's not going anywhere. >> the democrats haven't done a budget in three, four year, haven't put anything forward that deals with entitlements. there's one and only one plan that has actual ily been passed by one
the rules committee. >> two minutes. >> thank you. let's review. we have a fiscal cliff occurring at the beginning of next year. 12 short days. that means taxes go up for everybody who pays taxes and across-the-board spending cuts. the democrat alternative was rejected in a bipartisan basis earlier this year. our bill has been rejected is not passed versus the other bill. these business owners employ many tens of thousands of people in america in the middle class. the bill before us is a comprehensive bill. it gives us -- we have heard testimony after testimony from business owners give us certainty. the democrat alternative is not even comprehensive. does not include the state tax. we will be right back here again december next year. this gives us certainty and employers certainty. job greater certainty. americans certainty they will not ever pay the tax again. this is the right medicine for 99.8% of americans to prevent them from seeing their taxes go up on january 1 and it gives us an opportunity in the next session of congress to provide comprehensive tax reform to simplify ou
on christmas eve. uncertainty over the fiscal cliff is affecting how much consumers are spending. still, retail analysts say holiday sales are on track to rise 4.1% to $586 billion, the most optimistic forecast since the recession. now, a lot of those products, the most popular topping the list this year, alex, all the apple products, of course clothing, toys, luxury items on the list. finding them may be a little bit difficult, but certainly stores say they're still refreshing that inventory even now. >> okay. michelle franzen, enjoy. happy shopping. i know you're doing some out there. no worries. >> reporter: oh, no, no. >> yeah. online shopping leads our list of number ones. last week cybershoppers spent more than $7 billion, the most ever shelled out in one week. investors in us airways say it's been a very good year. cnn money named us airways the stock of the year. that share price is up 165% year to date. you may have heard the price of milk could soon double. that's if congress does not agree on extending current dairy subsidies. that could have the biggest impact on farmers in californ
with no agreement to avert the fiscal cliff. house speaker john boehner is home in ohio tonight. but he left a video behind. >> washington has a serious spending problem. >> reporter: which played in the capitol tonight would echo through the empty halls. >> the president's solution of raising taxes -- >> reporter: the republican leader of the senate took a holiday swipe at democrats. >> i'm stuck here at washington. trying to prevent my fellow kentuckyians from shelling out more money to uncle sam next year. >> reporter: we're learning more tonight about how the negotiations fell apart. the wall street journal quoting unnamed sources said that when the speaker offered $800 billion in revenue by limiting deductions the speaker asked, what do i get? the president reportedly responded, you get nothing, i get that for free. unable to agree on a big deal, on taxes and entitlements, the president is now hoping to get a small deal, extend middle-class tax rates and agree to a framework for a big deal. >> that's an achievable goal, that can get done in ten days. >> reporter: can it? consider the speaker's
% of shoppers had finished their holiday shopping. 70% of those polled said ur certainty about the fiscal cliff has caused them to spend less on gifts. >>> and if you plan to pick up some gift cards during the last minute shopping, buyer beware. some shoppers report paying $25 or more in purchase and shipping fees. that's before the maintenance fees kick in. bank rate.com's latest survey found bank issued cards tend to be the biggest culprits. company says all eight of the popular general purpose gift cards offered by banks and credit card companies charge purchase fees, but only 55 retail gift card bank rate survey charged the fees. >>> how much are you willing to pay for milk? how about $6 a gallon? some farmers fear that's possible. if congress doesn't take action on the farm bill that expired in september. government sets a minimum price for milk so dairy farmers can stay in business. but with no farm bill, the way your milk gets priced, it would revert to 1949 law and cause dairy prices to go up. >>> time now for a look back and a look ahead at the weekend on wall street. deborah costron h
the problems with the fiscal cliff, the debt deal from last year, the cr -- all of these issues of tax rates and spending are hitting because people do not want to continue to steal from the future to pay for now. host: stephen dinan was the the politics editor at the washington times. he covered the legislature in virginia. he has a bachelor's from the university of virginia. in the new york times this morning, there was an article with the headline, boehner finds the speaker's chair can be lonely. republicans fell 20 votes short of those needed to pass mr. boehner's bill that would make permanent musharraf tax cuts for households under $1 million per year -- make permanent the bush tax cuts for households under $1 million per year. the republican team could not bring enough members on board even though many of those who declined to support the measure told republican leadership that they secretly hoped it would pass. ixion's like some of these guys -- the speaker and the majority -- it sounds like some of these guys who the speaker and the majority leader thought they had the support of we
of the capitol last night with no agreement to avert the fiscal cliff. john boehner is home in ohio tonight but left a video behind. >> washington is a serious spending probable hem. reporter: which was played in the capitol tonight would run in the empty halls. i he republican leaders took a rhetorical swipe at democrats. >> i'm stuck in washington trying to prevent my fellow kentuckians from having to shell out to uncle sam next year. >> the wall journal quoting unnamed sources says when he speaker offered $800 billion in revenue by limiting deductions, the speaker asked, what die get. the president reportedly said, you get nothing. i get that for free. unable to agree on a big deal the president is now hoping to get a small deal. stepped middle class tax rates, extend some unemployment benefits and agree to a framework for a big deal. >> that's an achievable goal. that can get done in ten days. >> can it? consider speaker boehner's other words which are really echoing about making a deal. >> how we get, god only knows. >> the president waisted no time getting into vikes mode. the played
to washington next week because of the so-called fiscal cliff. legislators left washington without a deal that would avoid cutting government services on january 1st. >> a portion of interstate 80 heading to the sierra was shut down today after a series of storm related spinouts. the highway patrol shut the highway down this morning from colfax to the nevada state line. this is what it looked like this afternoon where you see a detour prompting cars to exit the freeway and turn around. at times the interstate looked more like a parking lot. >> try to get to tahoe for christmas and we saw a small sign that says road closed and thought day were kidding. but they weren't. >> the interstate eventually reopened this afternoon, the most powerful winter storm of the season is on track to drop as much as 5 feet of snow on top of the sierra. here's what it looked like earlier at squaw valley. as much as 12 inches of snow is forecast for the foot hills around reno, carson city. >> the highway patrol is looking for the driver who crashed an suv in oakland this morning. the vehicle careened off inter
the fiscal cliff, but we are still going to have a lot of debate about how to deal with entitlements and spending cuts, and this is just showing that even after the election, washington teams paralyzed and unable to act, not very impressive. >> we felt so promising after the elections they wanted to work together, and you talk about the small deal, can they get it done? because boehner said, as far as reaching the deal, god only knows. >> if we go over the fiscal cliff where we get passed january 1st, things won't happen right away. there are automatic spending cuts that will take affect, and congress can come back and get legislation done. congress can prove to work quickly when it has to. i think the expectation is they come back after christmas and get the smaller deal done that at least puts off the idea of the fiscal cliff and then they have to come back and get back to the deficit-cutting deal if they can reach that later on. >> and president obama nominated john kerry as second of state. he has been in a good position to do this for a long time, and former nominee, of course,
last monday. >>> lawmakers are losing hope that a comprehensive deal to avoided fiscal cliff can be reached by the end of year. many are pushing for a patchwork measure. a broader plan to better balance taxes and cut spending would be discussed in the new year. congress is on break for christmas. they'll only have a few days to get any type of deal done when they return after the holiday. >>> mitt romney's sontagg says his father, quote, wanted to be less than anyone he's het in his life. he made those comments "the boston globe." tagg romney said his father had no desire to become president and would have stepped aside if he had someone to take his place. he described his father as a very private person who doesn't love attention. tagg romney served as an adviser to the 2012 romney campaign. >>> could be the end for jack's boat house. why the historic riverfront rental shop has been told to get out by the end of next month. >>> and we got some sun today but will it last? chuck bell will tell us whether we cou >>> with less than two days now until christmas, some procrastinators
from the largest tax hike in american history was no movement toward a fiscal cliff deal more in the action in the house or senate. the responsibility now to avoid massive taxe and draconian spending cuts reting squarely on the prsident. fox news chief white house correspondent ed henry with our report. >> just as our economy is really starting to recover and starting to see optimistic signs and we have seen actually some upside to from a whole range of areas, including two from including housing, now is not the time for more self-inflicted wounds , seven not the estimate from washington. lou: president obama's top advisers were quick to dump on the speaker come -- declaring he is backed into a corner. >> they went from plan b to plan seal later. the fact that they could not even plan -- pass that was an embarrassment. >> in private the president's advisers admit they are bit more apprehensive firmly believing mr. obama has the upper end of the public. if the market takes the hit to the commander-in-chief we will still face his share of heat for washington this function to may
think the president wants to go over the fiscal cliff? >> you know, republicans and democrats are going to get the blame for this. everybody is going to get the blame because it's a spending problem that has been decades in the making. when you look at the trajectory of how many has been spent in this country, you can go back 50, 60 years and see the articulation of where those dollars have been spent, see how that spending escalated coming through the '70s, back down a little bit with reagan, but not enough, and then, of course, when you reduce the taxes, you need to be reducing that spending, so the blame, there's -- there is plenty of blame to go around. i am really concerned that come january 1 you're going to see the taxes go up on people. you are going to see the obama care taxes come on to the books, and it's going to be kind of that taxmageddon, if you will, if we do not reach a resolution to these issues. as you've seen, you have to have some spending cuts and entitlement reforms to make this work. >> you told the "new york times" you would not support speaker boehner's plan "b
. that is for fiscal 2013. that assumes that somehow the fiscal cliff does not happen. national debt, $16 trillion in debt. debt held by the public, $13 to land? that does not include the social security trust fund. as a percentage of gdp, is getting up there. it is not unprecedented. as we talked about, two weeks ago and last week, it is not so much that the nominal size of the debt that we need to be worried about. it is how fast the debt is growing relative to the size of the economy. you do not want to pay off the debt, but as the debt falls as a percentage of gdp, the economy growing faster than the deficit, we should be just fine. >> -- host: how did we get to this point? we have seen the deficit under this president go up by about $1 trillion. guest: there are two ways to look at it. when you're looking at the size of debt and where we are going, right now, we are still coming out of this economic crisis. you have large deficits for four years, mainly because you have a really low revenues, people do not have jobs or they are getting paid less. there has been some extra spending over the pa
much. we'll turn to the fiscal cliff . it is approaching effort . it is earlier this week there is signs of progress and republican house speaker john boehner said plans don't do enough to address the key problem. nasa's government spending that could impact future americans . >> what the president offered so far will not resolve the spending problems . it will hurt our economy. a failing to reach a deal by december 31st would trigger tax hikes and spending hikes . and they say they are willing to continue to work toward a deal . the question is can they get it done in a time. here's steve in washington. will president obama focus on the fiscal cliff? do we know? >> probably not: there will not be done to much -- and president arrived in honolulu. within to his rented vacation home. he left washington last night after scaling back . it is still possible . he's focusing now on a middle class tax hike and extended unemployment benefits. and this congress laws can only pass for democrats and republicans and that means no one gets 100 percent of what they want. everybody has t
christmas and efforts to keep us from plunging over the fiscal cliff are on hold for now. leaders claim they will work a p house leader john boehner said the white house proposal doesn't go far enough to stop massive spending. failure will trigger tax hikes and spending cuts. >> there are weeks of protest over the constitution which opponents say give too much power to president morsi . egypt's vice-president resigned and his position will be elim flated altogether and word that government's central bark quits. i am back to huckabee. for all of the headlines go to fox news.com. the pro lifer versus pro abortion is heating nup ireland. the woman complained of pain and she asked for a abortion believing she miscarried her young baby. the doctors refused to abort the child saying the fetal heart beat was still. the women died three days later. the incident caused controversy all over the world . american pro abortion advocates pressured hillary clinton. joining us is hilary rose. an irish citizen nevy brown delair woman of love institute. it is so good to have you hered today. ireland is a
to the mainland, as that fiscal cliff deadline gets closer what do you think will happen out there as the week rolls on? >> reporter: well, miquel, it's hard to believe that president obama would not at some point come back to washington it is not officially on his calendar at this point but he has obviously come out here for christmas break while congress is away from washington as well and it is, of course, a little bit of a working vacation for him, as the white house tries to work something out with senate democrats, some sort of package to avoid these tax hikes for middle class americans here tend of the year. that's something, of course that will require some buy-in from senate republicans to pass. and it seems that unlikely that senate minority leader mitch mcconnell would want to negotiating? that he doesn't feel will be able to also pass the house, which would require the support of some house republicans and that's part of the reason why this is such a difficult task and it has really been thrown into question whether or not the country is going over the fiscal cliff. the senate will
is calling on the holiday spirit to avoid the fiscal cliff. >> everybody can cool off. everybody can drink some eggnog, have some christmas cookies, sing some christmas carols. >> but it may take more than divine inspiration. if so, this board gives me rates for . ere companies? yes. but you're progressive, and they're them. yes. but they're here. yes. are you...? there? yes. no. are you them? i'm me. but those rates are for... them. so them are here. yes! you want to run through it again? no, i'm good. you got it? yes. rates for us and them -- now that's progressive. call or click today. we've decided to we're all having such a great year in the gulf, put aside our rivalry. 'cause all our states are great. and now is when the gulf gets even better. the beaches and waters couldn't be more beautiful. take a boat ride or just lay in the sun. enjoy the wildlife and natural beauty. and don't forget our amazing seafood. so come to the gulf, you'll have a great time. especially in alabama. you mean mississippi. that's florida. say louisiana or there's no dessert. brought to you by bp and
the fiscal cliff. >> everybody can cool off. everybody can drink some eggnog, have some christmas cookies, sing some christmas carols. >> but it may take more than divine inspiration. [ woman ] dear cat, your hair mixes with pollen and dust. i get congested. but now, with zyrtec-d®, i have the proven allergy relief of zyrtec®, plus a powerful decongestant. zyrtec-d® lets me breath freer, so i can love the air. [ male announcer ] zyrtec-d®. behind the pharmacy counter. no prescription needed. >>> six weeks after his unanimous re-election as speaker, john boehner faced a mini mutiny in his own congress. they said they would oppose his backup plan to keep tax cuts in place. anyone making more would see a tax hike. the speaker saw the setback as a se mantic problem. >> listen, there was a perception created that that vote last night was going to increase taxes. now, i disagree with that characterization of the bill, but that impression was out there. now, we had a number of our members who just really didn't want to be perceived as having to raise taxes. that was the real issue. >> with t
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